U.S. consumer credit rise in January by 0.8 percent

Washington – The volume of U.S. consumer credit in January 2009 by 1.8 billion U.S. dollars increased. This informed the Federal Reserve (Fed) on Friday.
Overall, the total volume of outstanding consumer credit rose by 0.8 percent to 2564 trillion dollars. In December, consumer credit fell by 3.5 percent revised, following a revised decline of 4.2 percent in November.

The extent of short-term debt such as credit card debt rose in January by 1.2 percent or 0.9 billion U.S. dollars to 961.3 billion U.S. dollars. In December, the volume was revised to 9.5 percent decline. The volume of long-term loans, such as for car purchases or student loans, rose in January by 0.6 percent or 0.8 billion U.S. dollars at 1603 trillion dollars. In December, the volume was revised to 0.1 percent increase.